Paychecks & Taxes

Pay

100

Being paid this method involves hours worked and an hourly rate paid

What is hourly wage?

200

This type of pay does not factor in hours, fixed rate of pay is involved

What is salary?

300

The rate you get paid for overtime is _____ times your regular hourly wage

What is 1.5?

400

An hourly employee gets paid overtime after how many hours of work in a week? 

What is 40 hrs?

Pay Periods

100

If you get 52 checks a year you are paid this way.

What is weekly?

200

If you get 12 paychecks a year you are paid this way.

What is monthly?

300

If you receive 26 paychecks in a year you are paid this way.

What is bi-weekly?

400

When you receive 24 paychecks a year you are paid this way.

What is semi-monthly?

Taxes

100

Without an extension, taxes are due.

What is April 15th?

200

At what point does a person start paying taxes?

What is "when you start a job"?

300

Employers must mail the W-4 form to employees on this date.

What is January 31st?

400

You complete this tax form for withholding when you start a job. 

What is a W-2?

Pay Vocabulary

100

This is your pay BEFORE taxes and other deductions are taken out.

What is Gross Pay?

200

This is the total about of pay you've received since January 1.

What is YTD (net pay)?

300

All items that are subtracted off your paycheck

What are deductions?

400

This is your actual take-home pay amount, after all taxes and deductions.

What is net pay?

Unions

100

This comes out of your paycheck to pay for union membership/benefits.

What is dues?

200

What is one benefit the union fights for?

Higher pay, benefits, better working conditions, etc.

300

True or False? Union members cannot be fired/terminated from their employment.

What is false?

400

What were some of the problems in many factory jobs before labor unions came along in the 19th century?

What is child labor, dangerous working conditions, low pay, long working hours, etc.